TORONTO, ON – February 7, 2024 – AutoTrader.ca, Canada’s largest and most trusted automotive marketplace, is pleased to announce the results of a comprehensive study that underscores the unique value it brings to automotive dealerships in driving vehicle sales. The study, conducted in collaboration with Clarivoy, a leader in identity-based targeting and measurement for automotive marketers, focused on understanding the impact of various marketing channels on vehicle sales within the Canadian automotive landscape.
A sample of 2,223 vehicle sales from 2022 to 2023 formed the basis of this study. The findings revealed a compelling narrative; AutoTrader played a pivotal role in influencing 60% (+/-2%) of these vehicle sales. In comparison, Google paid ads, encompassing search ads and vehicle listing ads, contributed to 6% (+/-2%) of vehicle sales.
Of note is the intriguing pattern discovered within the 6% of sales influenced by Google paid ads. Remarkably, within this subset, an even more compelling trend emerges; 70% of these consumers had also visited AutoTrader.ca at some point during their purchasing journey.
“Further underscoring AutoTrader’s role, among these consumers, this study found that a significant 55% initiated their journey with AutoTrader.ca first and subsequently engaged with Google paid ads before arriving at their purchase decision,” said Mike Kilinski, Vice President Product, Data & Analytics at AutoTrader.ca. “This intricate consumer pathway highlights AutoTrader’s instrumental position in guiding consumers towards their decision.”
The credibility of this study is fortified by Clarivoy, a respected third-party data analysis partner. Employing a meticulous multi-channel attribution technique, the study ensures a comprehensive evaluation of marketing influences.
Intriguingly, a similar study conducted in the USA with more vehicles in the comparative set due to market size revealed a comparable trend.
“The study serves as a valuable resource for dealers, shedding light on the nuanced dynamics of consumer decision-making in the automotive sector. While Google Paid ads may suit certain scenarios, AutoTrader’s unique influence shines in environments where extensive consumer journeys and meticulous cross-shopping are integral to the purchasing process,” said Ian MacDonald, Chief Marketing Officer at AutoTrader.ca.
AutoTrader’s commitment to providing dealers with actionable insights and effective marketing solutions remains unwavering. The study’s results are a testament to AutoTrader’s genuine dedication to elevating dealers’ business growth by providing a clear perspective on consumer behaviour and preferences.
AutoTrader is the largest and most trusted automotive marketplace in Canada. Offering the most new and used car inventory, together with the largest audience of buyers in Canada, AutoTrader enables and empowers millions of car sales every year for Canadians across the country. AutoTrader receives over 26 million monthly visits to the marketplace and the top-rated AutoTrader app has been downloaded by more than 7 million Canadians. Visitors can buy or sell cars, trucks, or other motorized vehicles quickly, easily, and confidently. Buyers can search based on vehicle model, make, colour, and geographic location to find the deal that is right for them. AutoTrader is also an online destination for automotive research and entertainment, featuring news, reviews, videos, and podcasts from award-winning automotive journalists. Follow AutoTrader.ca on LinkedIn, YouTube and Facebook.
Clarivoy powers identity-based targeting and measurement for automotive marketers. Our Automotive Identity Graph™, which identifies and tracks more than 131 million monthly automotive shopping sessions, provides a comprehensive view of a consumer’s purchase journey. This proprietary and foundational dataset enables brands, agencies, media companies, and platforms to identify and measure audiences and marketing performance across all digital channels with incomparable precision and scale. www.clarivoy.com
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E: ciara.dalziel [at] labourcreative.ca